| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 55th | Fair |
| Amenities | 41st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3187 NW 118th Dr, Coral Springs, FL, 33065, US |
| Region / Metro | Coral Springs |
| Year of Construction | 2002 |
| Units | 22 |
| Transaction Date | --- |
| Transaction Price | $540,000 |
| Buyer | SYMPHONY BUILDERS AT THE TIDES LLC |
| Seller | WALKER |
3187 NW 118th Dr Coral Springs Multifamily Investment
Neighborhood occupancy ranks in the top quartile of the Fort Lauderdale–Pompano Beach–Sunrise metro, supporting durable renter demand according to WDSuite’s CRE market data. Elevated ownership costs in the surrounding area further reinforce reliance on rental housing.
Located in Coral Springs’ inner-suburban fabric, the property benefits from neighborhood fundamentals that are above metro norms for renters. Neighborhood occupancy is strong (top quartile among 345 metro neighborhoods), and the renter-occupied share is near half of housing units, indicating a sizable tenant base that supports leasing stability.
Daily-life amenities are mixed: park access is a relative strength (top national percentile), restaurant density is above national average, and pharmacies are plentiful, while on-block café and grocery density is comparatively limited. Average school ratings in the neighborhood trend above national midpoints, which can aid family retention and longer tenancy.
Pricing context skews toward a high-cost ownership market, with home values elevated versus national benchmarks. That backdrop typically sustains multifamily demand and can support retention, though rent-to-income trends suggest investors should calibrate pricing and renewal strategies to manage affordability pressure.
Within a 3-mile radius, demographics point to demand support: population and household counts have grown and are projected to continue expanding through the next five years, with households accelerating faster than population, implying smaller household sizes and potential renter pool expansion. Neighborhood-level NOI per unit trends above national midpoints, according to WDSuite’s CRE market data, reinforcing the area’s income-producing profile for stabilized assets.
Comparable safety benchmarks for this neighborhood are not available in the dataset provided. Investors typically compare neighborhood crime trends to both metro and national context; in the absence of ranked figures here, it’s prudent to review recent municipal reports and property-level security measures to evaluate fit with tenant profile and retention strategy.
The area draws on a diversified employment base that supports renter demand and commute convenience, led by healthcare and corporate services. Notable nearby employers include Tenet Healthcare, AutoNation, Office Depot, Johnson & Johnson, and Ryder System.
- Tenet Healthcare Corporation, Florida Region — healthcare services (2.25 miles)
- AutoNation — automotive retail & corporate functions (13.59 miles) — HQ
- Office Depot — office products & corporate functions (13.71 miles) — HQ
- Johnson & Johnson — life sciences offices (25.32 miles)
- Ryder System — logistics & corporate functions (28.44 miles) — HQ
This 22-unit asset built in 2002 is relatively newer than the neighborhood’s average vintage, offering competitive positioning versus older stock while leaving room for targeted modernization to elevate rents and reduce near-term capital friction. According to CRE market data from WDSuite, the surrounding neighborhood posts top-quartile occupancy within the metro alongside a renter-occupied share near half of housing units, pointing to depth in the tenant base and support for stabilized operations.
Macro context favors multifamily: elevated ownership costs in the area sustain renter reliance, and within a 3-mile radius, population and household growth — with households outpacing population — suggest a larger tenant base and potential lease-up support over time. Balanced against these strengths, rent-to-income dynamics indicate affordability pressure, warranting disciplined revenue management and renewal strategies.
- 2002 vintage offers competitive positioning vs. older neighborhood stock with room for targeted value-add
- Top-quartile neighborhood occupancy in the metro supports stability and retention
- High-cost ownership market reinforces multifamily demand and pricing power
- 3-mile radius shows population and household growth, expanding the renter pool
- Risk: affordability pressure suggests careful rent setting and renewal management